Another disappointment from the German industry. After the data published yesterday on orders, much lower than expected, this morning Germany also recorded a flop on the side of production: the index relative to August reveals one contraction of 4% compared to July, against the -1,5% expected on average by analysts. On an annual basis, however, the decline was 2,8%.
Worth mentioning is the 25% drop in the production ofautomotive industry, linked in any case to seasonal factors. The data of has been revised downwards July, from +1,9% to +1,6% on a quarterly basis. "Overall - says the German Economy Ministry in a note - we will have to count on weak production in the third quarter".
